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Hi
i'm feeling very scared, husband about to leave me and i have 2 small children. Will be left with mortgage of £150,000, secured loan of £33,000 and £75,000 of unsecured debts. I am a teacher with take home of £1997 a month. Will prob file for bankrupcy myself and think my house will be repossessed. Have been to sign a rental agreement on a house as i am not yet bankrupt. I ticked the 'no' box with the bankruptcy question. Am i doing the right thing. i'm so scared. Kirstie

Firstly BIG hugs to you and A VERY warm welcome!

One of the technical experts will be along shortly to offer some advice - hang in there!

Poor you. is the debts just in your name?? will your husband not be able to help or at least liable for some of it?

I'm sure someone will be along to give you expert advise

Hi and welcome to the forum.
Poor you it must be such a difficult time for you without the money worries. As ang says any debts in hubbys name are his to service. Get some professional advice from an insolvency practioner. Initial advice is free.
I wish you all the best and keep posting. The forum gives great support even if you just feel like a bit of a rant. Ask all the questions you want.
As said wait for the technical experts to answer.

Ang

Am so sorry to hear of your current situation. The last thing you want to be doing right now is worrying about your debts on top of everything else that is going on.

Bankruptcy may well be the best option for you, but do consult with an insolvency practitioner for advice on this and other options available to you. This will cost you nothing, and could bring some peace of mind at a very difficult time.

Hi Kirstie

I realise this is a touch time for you but you are very strong and can survive this. To be able to secure a rental for you and your young children whilst all this is going on shows your strength of character. Bankruptcy is a scary daunting thought, but not as bad as many people think. Have a read of Skippy 13's blog, to get an idea of what happens, knowledge is a fear killer here. Please let us know how you are getting on, the support here is good and ongoing.

Best wishes.

Hi

really suggest you speak to a professional because you need toget your ducks in a rowbefore taking any plunge or makig any decision.

You have a lot to sort out and having a chat with someone like Melanie would probably serve you well. She will be able to advise of all the alternatives available and some of the challenges.

Most important of all is not to rush. Invariably you will have much more time than you think you do so it is important not to rush or panic.

Get some proper carefully cosidered advice - give Melanie a call,

hi kirstie

just want to say i am so sorry about your situation but you have come to a great place for support and advice!

is your husband not liable for some of the debts?

you are being very brave and strong, it shows in that you have secured a rental place. the most importaqnt thing at the moment is to keep yourself strong for you and your children!

like others have said get some professional advice to see which is the best way to get this situation with the debts sorted! dont panic there will be a way to get things sorted!

keep on posting as there are lots of people to support and advise you on here!

good luck

love barb x

Welcome from me too. I am sorry to hear about you and your husband, but you have taken that important first step to sort yourselves out.

You will be ok with having ticked the 'no' box, because you aren't bankrupt yet.

Give Melanie a ring, her contact details are on her post, she comes highly recommended and will be able to advise you.

If some of your debts are joint, this will obviously impact on your husband and he may need to take advise himself as he will be liable for those debts even if you go bankrupt.

Thank you all so much for your advice and support, i know that i can get through this!!!(I think!!) Just packing up the house now, fingers crossed that credit check will go OK with landlords before i start the whole bankruptcy thing.
Am i allowed to take the furniture from the house and the white goods or should i leave that for the receivors for when the bankruptcy starts?
Also i paid for a holiday on the credit card, I assume that will be taken back? Any advice would be greatly appreciated.

thank you xxxx

You'll be able to take the furniture and white goods etc - the OR isn't interested in normal household goods.

I'm not sure what will happen about the holiday - hopefully Melanie will be able to help you x

Kirstie

Household furniture and equipment will not be affected by your bankruptcy, so take as much of it as you can cram into the removals van - you will need it.

You will use your credit cards, but if the holiday has already been paid for you may still be able to travel with the permission of your Trustee, as the holiday may not be able to be transferred to anyone else for value. How much was the holiday, and how many people were due to be travelling?

thank you xxx
the holiday is for 4 nights at center parcs for about £900 in total. Was booked for my husband, myself and two children.

Kirstie

That should not disturb the OR - so I would go ahead and enjoy it. Hopefully a friend could take your husband's place, so that it will not be wasted.

I hope you can go and enjoy the holiday xxx